Hello Martin. some weeks ago you said the Euro has to break through the 1,15 Level to test at the very best the 1,20 . Is this over now and confirmed that the 1,14 / 1,15 was the top ?
ANSWER: It appears that is the case. The way to gauge this is TIME v PRICE. You have turning points and price targets. May was a critical target and that is the high so far. Then we had June/July followed by September.
The way to use the model is the merger of Reversals and TIME. We could not exceed that threshold of 115. Exceeding that high will not be possible only if we close below 103.35 level on a monthly basis. The numbers define the price level, but they must be achieved within a specified time target.
A September high for the Euro is still possible since July is a Directional Change. We could see the initial sharp drop creating the low from which new Weekly Bullish Reversals will be generated. We then watch to see if they are exceeded and if so we can still end up with a September high and then the crash.
I simply step in and step out. Sell against the 115 reversal and we know where your are right and wrong. Let the market decide and if exceeded then look for the 120. If not, you sold the high at 115.
I play the Reversals as key definitive targets where the market speaks to me rather than me trying to dictate what I “think” the market should do. ANTICIPATION plays the major role so this is why fundamentals lose money.